South Korea Current Account

South Korea recorded a current account surplus of $2.94 billion in January 2025, marking its ninth consecutive month in the black, driven by robust exports. However, this surplus was the smallest in the current streak, falling short of the $3.05 billion surplus seen in January of the previous year. The goods account registered a surplus of $2.50 billion, as exports dropped by 9.1% to $49.81 billion, while imports also declined by 6.2%, totaling $47.31 billion, compared to the same period last year. The services account, however, posted a $2.06 billion deficit, primarily due to losses in manufacturing services, travel, and other business services. The primary income account saw a surplus of $2.62 billion, driven by higher income from equity. Meanwhile, the secondary income account recorded a modest deficit of $0.12 billion.